Gujarat Pipavav IPO confirms non-institutional demand is back

The Indian port operator raises $107 million after fixing the price above the mid-point.

Gujarat Pipavav Port, the operator of a container and bulk cargo port on the west coast of India, has raised Rs5.08 billion $107 million from its initial public offering after fixing the price above the mid-point of the range.

The final price of Rs46 per share is also above the Rs45 per share that a group of anchor investors agreed to pay before the main bookbuilding started and means that those investors, which include DSP Blackrock, Goldman Sachs and the...